LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on identifying best cost sourcing location for an automobile manufacturer.
The company wanted to reduce production costs while ensuring quality, innovation, and flexibility in the supply chain. The key objectives they aimed to achieve through this engagement are mentioned below:
- Objective 1: The company wanted to increase cost efficiency and identify better sourcing locations to address compliance risks occurring due to trade wars and tariffs.
- Objective 2: They also wanted to obtain industry-specific data to analyze slump in demand and address changing consumer preferences.
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“Falling demand for cars, unpredictable trade wars and tariffs, and limited access to industry-specific data have compelled automobile manufacturers to perform a comprehensive automobile industry analysis to identify cost reduction opportunities,” says Srinivas R., Procurement Manager at SpendEdge.
To conduct automobile industry analysis and identify cost reduction opportunities, get in touch with our experts now!
Key findings and solutions offered
In collaboration with SpendEdge, the client – a renowned company in the automobile industry – addressed AIAG guidelines, met IATF16949 standards and gained a comprehensive understanding of trade barriers in different sourcing locations. The solution offered helped them to:
- Devise a quality plan to support the development of quality products.
- Obtain detailed market intelligence information on the supply market and supplier landscapes.
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Outcome: The solution offered by experts at SpendEdge helped the automobile manufacturer to devise an advanced product quality planning (APQP) framework. This ensured quality products to consumers. The industry-specific data and specialized databases helped the client to select suppliers who can ensure differentiating products. The solution further helped the automobile manufacturer to respond to market fluctuations, engage with suppliers that could bring innovation, and identify best cost sourcing location. Also, the procurement strategies developed by experts helped the client to reduce production costs by 15%.
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SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.
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